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Prime to pay $35M for Pennsylvania hospital

Ontario, Calif.-based Prime Healthcare Services entered into an agreement to acquire Mercy Suburban Hospital in East Norriton, Pa., in March, and recently filed documents show that Prime will pay $35 million for the facility, according to a Philadelphia Business Journal report.

After repaying loans and legal and consulting expenses, the sale is only going to net the hospital about $300,000. Those details were contained in documents filed by Mercy with the Montgomery County Orphans Court, which is responsible for overseeing the transaction.

Mercy Suburban suffered $49 million in losses in fiscal years 2013 and 2014, according to the report, which cites data from the Pennsylvania Healthcare Cost Containment Council.

More articles on healthcare transactions:

Metro Health sale to CHS falls through: 5 things to know
LifePoint seeks to expand footprint into South Carolina
Capella to be sold for $900M: 5 things to know about the deal

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